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A firm has a long-run cost function, C(q) = 4q^2 + 4. In the long run, this firm will supply a positive amount of output, as long as the price is greater than what?
If the government had the option to either make changes to the tax rates or vary government spending to combat a recession that is already in progress, which of these two fiscal policies do you think would have a greater time lag to see its effect..
Display a diagram in (c1,c2) space that indicates the cost combinations for which firm 2 will choose not to compete. Interpret the equation describing the boundary between the regions where firm 2 does and does not compete.
Compare the political scientist's view of government and economic policymaking and the Public Choice conception of politicians, bureaucrats and special interest groups in the political process. Which do you consider to be more realistic for underst..
mutual fundsa take in deposits from savers and make direct loans to borrowers.b provide another source for borrowers to
Show that the optimal amount of the public good isthe same in every Pare to efficient allocation. What is this amount? Will the optimalamount of the public good change if the initial wealths of the two individuals change?
Joe Brown’s dairy operates in a perfectly competitive marketplace. Joe’s machinery costs $500 per day and is the only fixed input. His variable costs are comprised of the wages paid to the few workers he employs at the dairy and the grain he feeds to..
Which is not a factor of production? Which is not one of the five fundamental questions that an economy must deal with?
Explain a political, economic, or social interaction of decision makers that you have heard about in words. The condition should involve decision makers, available actions
Compute output, marginal cost, average cost, price, and profit at the average cost-minimizing activity level. Compute these values at the profit-maximizing activity level.
What does the cost of a good or service reflect? Will producer continue to supply a good or service if consumers are unwilling to pay a price sufficient to cover the cost?
Using aggregate demand, short run aggregate supply, and long run aggregate supply curves, describe the process through which each government policies will move economy from one long run macroeconomic equilibruium to another.
which of the following have traditionally been considered natural monopolies?a. public universitiesb. public golf
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